Filed under: Ford, Jaguar, Land Rover, Volvo, Earnings/Financials
Ford says Jag, Volvo and Land Rover aren't for sale
Although Ford has recently confirmed that Aston Martin is up for sale, they made a point of saying today that the rest of its premium brands, are not. Jaguar, Land Rover and Volvo are not part of the fire sale at Ford just yet. With the new, almost-as-sexy-as-an-Aston XK coupes and convertibles starting to find their way into dealerships, Jaguar in particular is looking good for the time being, despite being one of the biggest financial thorns in Ford's side.
Ford's announcement was made to financial analysts by Lewis Booth, head of Ford of Europe and the Premier Automotive Group (PAG), which oversees the overseas Ford brands. Of course, this could all change in the next hour or two as executives are usually fluent in doublespeak. Although PAG is expected to post another loss in 2006, there are some signs of improvement heading into 2007, according to Ford. As we have had to report ad nauseum, Ford recently put the pedal to the metal in its cost-cutting plans, announcing drastic cuts (more than 40,000 jobs going away) and the closing of as many as 16 plants in North America to help get them back in the black by 2009.
[Source: Motor Trend]
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Reader Comments (Page 1 of 1)
Richard 10:18AM (9/29/2006)
I thought, when I saw the picture: "How stupid. We already know Aston IS for sale."
Then I realized: that's the Jaguar.
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americans fired, british hired 4:10PM (9/29/2006)
While britain continues to enjoy all the largesse and its workers get fat paycheck for making a few hundred turds a week, it is the american worker from whose table food and drink is being snatched.
Why are the americans paying for british jobs with their blood and sweat.
Why did not ford shut down jaguar and land rover and focus on north america. Why 40,000 workers are being laid off by that incompetent nincompoop mark fields.
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where does ford's loyalties lie 4:17PM (9/29/2006)
Ford is acting more like a british compnay rather than an american compnay.
Tens of thousands of americans are being fired, and nobody is paying any attention to their plight.
On the other hand every effort is being made to protect british jobs and british brands and siphon billions upon billions in largesse to the british for doing no work at all.
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Paul Read 5:41PM (9/29/2006)
Oh grow up. The US auto industry is just going through the same difficult stage the British one did several decades ago; too many factories building cars no-one wants to buy. At too high a price.
Ford turned round Aston and Land Rover and is getting there with Jaguar.
They are making cars people want to buy and when the new S-Type comes out it will sell like the hottest of cakes. Can the same be said for Lincoln, Mercury et al?
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ken butterfield 10:16PM (10/04/2006)
Again, why did Lincoln leave RWD/V8 refinement and power for “American luxury”. I think a link with Jaguar would really help Lincoln with RWD luxury and some aluminum technology back from Jaguar.
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